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Discussion Got laid off. What to use FSA money on?

Synomenon

Synomenon

Lifer
So this is the first time I've had a FSA account. It's also the first time I've been laid off. My health insurance will cover me until July 31 so I'm assuming that's also the day I have to use up my FSA money.

I've tried calling my doctor's office to see if I could get a physical to use some of that FSA money on (even though I had one in January), but they are busy with all the COVID craziness.


What can I use the money on? Someone pointed me to fsastore.com. Is that all?
 
I'm really sorry, man. I hope things get better for you soon.

My understanding is you can continue your FSA account if you switch to COBRA. Otherwise, I know a lot of people that stock up on contacts or prescriptions....consider dental work/checkups?

I wasn't aware of that site. Thanks for sharing. I'm sure that may help someone else in a position where they need to spend money. (I think my wife had some last year she had to dump in mid-December on last minute notice and that would have been helpful).
 
Sorry that you were laid off. A tiny consolation prize is that you probably only half funded your FSA (since you are halfway through the year) but get to spend all of it even money that you didn't put in. For example, in most cases if you set up a FSA for $1200 this year, $100/month, then you would have put in $600 so far. But you still get to spend all $1200 in most cases.

Try dentists, optometrists, and pharmacies. I personally would just stock up on glasses and prescription sunglasses if I were in your situation.
 
I know Amazon has a FSA / HSA eligible items section as well, so you don't have to limit yourself to just fsastore.com.
 
dullard said:
Sorry that you were laid off. A tiny consolation prize is that you probably only half funded your FSA (since you are halfway through the year) but get to spend all of it even money that you didn't put in. For example, in most cases if you set up a FSA for $1200 this year, $100/month, then you would have put in $600 so far. But you still get to spend all $1200 in most cases.

Try dentists, optometrists, and pharmacies. I personally would just stock up on glasses and prescription sunglasses if I were in your situation.
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Correct me if I'm wrong, but he has until end of calendar year to use those FSA funds?
 
kt said:
Normally, your FSA fund is forfeited at the end of your employment whether you're quitting or getting laid off. OP should check with company that he can still use the FSA fund.
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Like I said, there may be a COBRA option too if he gets insurance within 30 days or something. (Check with the FSA company on that)
 
Ok so I should've done this first; I called the benefits department and they say my FSA money is good until the end of the year which for FSA is around March next year. Apparently I can use it to pay for COBRA related expenses too.

Thanks for the input everyone. Off I go for more job hunting.
 
kt said:
I know Amazon has a FSA / HSA eligible items section as well, so you don't have to limit yourself to just fsastore.com.
Click to expand...
Or even just go to your local stores and buy things. OTC medications are now covered thanks to the stimulus. Eye care items, like contact lens solution was already covered. Costs for eye care, like exams, sunglasses, eye glasses - those are also covered. Or just hit up doctors/dentist and use the account on copays.
 
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